The document discusses different perspectives on money and well-being. It presents three options for what to do with money: increased consumption for enjoyment, saving for emergencies, or investing for social benefit. It then provides an example of a charitable bond program where investors' money is used to provide affordable housing and job training while also being paid back to investors. The document also discusses concepts of well-being including life satisfaction, personal growth, relationships, and focusing on people not just as economic units but as individuals seeking purpose and social connections.

1. The Future is the Past with Different Options Well-being and Socially Motivated investment

2. Money: what do we do with it And a

3. Three things: - £ £ £ £ £ Increased income = increased consumption = increased enjoyment? (e.g. Layard ‘03, Deaton ’07)

4. Three things: - £ £ £ £ £ Rainy day? More consumption? Social investment - barren money or fruitful capital? Thriving on your money? (Heslam ‘10)

5. Three things: - £ £ £ £ £ “ A man cannot be said to have anything if he only lays it up – you may as well bury it in the earth or the bank of England. Not to use it is effectually to throw it away” (Wesley)

6. Three things: - £ £ £ £ £

7. Money: what we’ve done with it And a

8. Charitable Bonds Investors put their money in a fixed term bond with Citylife CITYLIFE INVESTORS £ £ £ £ £ 1

9. Charitable Bonds CHARITY HOUSING PROVIDER Citylife immediately gives around 20% to charity and loans the rest to develop affordable housing CITYLIFE £ £ £ £ £ 2

10. Charitable Bonds After five years the loan is paid back plus interest that matches the sum given to charity HOUSING PROVIDER CITYLIFE £ £ £ £ £ 3

11. Charitable Bonds Citylife gives investors back all the money they put in CITYLIFE INVESTORS 4 £ £ £ £ £

12. A Case Study:- Sheffield £ £ £ £ £

13. The Manor Estate, Sheffield

14. Mike Lancaster, community outreach worker.

15. Enterprise Loan Scheme

16. Moneyline – getting rid of Loan Sharks

17. Construction Skills Training – Manor Estate

18. Permanent dividends

19. And remember The investors get back all the money they put in. CITYLIFE INVESTORS £ £ £ £ £

20. But is that enough? And a

21. Well-being : Enhancing it enhances - careers - money - relationships - economic outcomes (Deiner and Seligman ‘04) But what is it...... And a

22. Eudaimonism - 1/3 rd Subjective life satisfaction, pleasure, hedonism - 1/3 rd Personal growth, autonomy, purpose - 1/3 rd Relationships – social, belonging (NEF ‘04) And a

23. Relationships - Trust, engagement, practical support, nurture, networks, health, family, friends, neighbours, workplace and wider. - “We use money to buy goods and services, but we use time to build and sustain relationships” (Tanner ‘07) And a

24. BIG Society must focus its regeneration policies not on its citizens as economic units but as eudaimonic individuals. Tim Jones Chief Executive, Citylife tim@citylifeltd.org 01223 323481